Vivo PMLA case: ED arrests 4 including MD of Lava International after raids

Here we are sharing a piece of shocking news with you the Enforcement Directorate arrested four people on Tuesday. ED charged four people connected to the Chinese mobile company Vivo under the PMLA Act. Since the news has come on the internet and it went viral on the social media platforms. Currently, this news left many questions in people’s minds. Now people have been searching for this news on the internet as they are very curious to know about the whole information about the news. Here we have more information about the news and we will share it with you in this article.

Vivo

Since the news came on the internet lots of people were shocked and uncounted reactions started hitting the headlines. Now people are super curious to know about the whole information about the news. Reportedly, The blamed include the MD of Lave International a chartered accountant, and a Chinese national. The probe agent had run a raid on premises connected to the charge on Monday and grabbed money amounting to over 10 lakhs. Since the news has come this news has been making the rounds on the internet as lots of people are super keen to know about the whole information. Scroll down to the next page for more information about the news.

As per the ED, a whopping  62,476 crore has been “illegally” transferred by Vivo to China to bypass the price of taxes in India. A money laundering lawsuit had been registered the previous year in February and the ED raided the company and related people in July 2022. Currently, this news has been gaining massive attention from the people as this news left many questions in people’s minds. You are on the right page for more information about the news, so please read the complete article.

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As far as we know, ED asserts to have broken a significant money laundering racket involving Chinese nationals and many Indian companies. As we already mentioned the ED alleges that numerous companies have been incorporated in India with the primary purpose of transferring funds to China illicitly. The inquiry disclosed that Vivo Phones India had transferred a substantial amount. Since the news came on the internet many people are shocked. Now we have shared all the information that we had if we get any information then we will update you as soon as possible. Stay tuned to us for more updates.

Mark
Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.